Ukraine's Olympic bid gives impetus for economic development for next 10 years, says Bubka

President of the National Olympic Committee of Ukraine (NOC) Serhiy Bubka has said that Ukraine's preparations to host the Winter Olympic Games give an impetus for the development of the economy for the next ten years, and the infrastructure built will serve for many years thereafter.

"As part of Ukraine's preparations for the possible holding of the 2022 Winter Olympics, infrastructure in the Carpathian region is being built to serve for many long years," Bubka said at a briefing in Kyiv on Tuesday after the signing of an official declaration on Ukraine's intention to bid to host the 2022 Winter Olympics.

"I want to say that the NOC is allocating [funds] for the Olympic Games and the creation of infrastructure that is being built not just for hosting the Olympics. The Olympic Games will give a positive stimulus to the development of the country's economy for 20-30 years ahead."

Lviv Mayor Andriy Sadovy said, in turn, that the Carpathians haven't been fully developed for sport, and in competing to host the 2022 Olympics there would be a unique opportunity to launch such development.

The invested money will yield a return he said, giving the example of the last Winter Olympics in 2010, which turned a profit for Vancouver in Canada.